6 years ago, we had the first Bitcoin fork where BTC forked to BCH. Now 6 years later, BCH is down 95% against BTC. An integral part of Crypto history nonetheless.

Just about 6 years ago from today there was a historic event for Bitcoin and all of Crypto history. On the 1st August 2017, BTC splitted into BTC and BCH, the first Bitcoin fork. Later on BCH also splitted into BCH and BSV in 2018. A hard fork means that a blockchain network splits up into a new and an old version, reasons for that have usually been conflicts in the developer team and it was actually the same with the BTC-BCH hardfork.

Here there were conflicts of rather having larger mining block for BTC and thus having cheaper fees and faster transactions (BCH) or just keep it at the smaller blocks (BTC). So, was it really worth it?

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Article of The Forbes just days after. fork and BCH price chart since its fork, picture from Pete Rizzo on Twitter (X)

While BCH still stays as the 17th Crypto ranked by market cap (and BSV is at 57th), it is still down a whopping 95% against BTC since its fork and generally down 94% from its ATH of over $1.1k in 2017 to now a price of $228. So looking at the numbers, it certainly was a failure and could never even narrowly come close to giving the actual BTC competition.

Just a small disclaimer at the end, BCH even if after the numbers has lost, this post should be no disrespect for their quite big community it has gathered over the years and the fact that it is under active development and can actually be used for low-fees and fast transactions. (unlike the Craig Wright aka Faketoshi scam of BSV)